New Auction Guarantee From Superior
ScarsdaleCoin
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I thought this was a interesting marketing piece from Superior?
Press Release Source: Superior Galleries, Inc.
Superior Galleries Announces Elite Auction Price Guarantee Service
Monday November 14, 8:00 am ET
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Nov. 14, 2005--Superior Galleries, Inc. ("Superior") (OTCBB:SPGR - News) announced today that it will immediately begin to offer auction price guarantees to its consignors. Named the "Elite Total Return Guarantee," Superior CEO Silvano DiGenova believes that this unique auction guarantee service will fundamentally change the competitive landscape in the numismatic auction field. Said Mr. DiGenova, "Guarantees are really nothing new at Superior, but we have recently institutionalized and branded this service, naming it our Elite Total Return Guarantee. We are now embarking on a major advertising campaign to bring this important benefit to the attention of consignors. Our guarantee service is unique in the marketplace as we are the only numismatic auctioneer whose policy it is to proactively offer price guarantees to our consignors as a standard practice. This is a major differentiating factor between Superior and its competitors."
Mr. DiGenova further explained, "The concept of a guarantee fits perfectly with our overall philosophy of fairness, transparency, and abundant information when dealing with our clients. We want our clients to know precisely what to expect in our auctions. We believe that the client should be informed and protected from unnecessary risk. A guarantee addresses both of these objectives. It's a simple matter of fairness and customer service.
"Our guarantee is really quite simple," said Mr. DiGenova. "If a consignor gives us the opportunity to inspect and evaluate their coins, we will give them a guarantee as to what their coins will realize at our auction. In most cases we can guarantee as much or more than other auction companies will estimate their coins. In addition, we are confident that in virtually all cases we can guarantee more than any other auction company would guarantee! Our guarantee eliminates the risk to the consignor. In most cases the only assurance that a consignor has is the auction company saying they will do a good job. If this is true, then they should be able to guarantee the results. . Rather, we at Superior feel this is a fundamental necessity to the consignor and advise they should never sell at auction without a guarantee."
Superior's Elite Total Return Guarantee will be promoted on the Homepage of its website, in advertisements in major numismatics journals and trade publications, and through email announcements to Superior's clientele.
Superior Galleries, Inc. is a publicly traded company, acting as a dealer and auctioneer in rare coins and other fine collectibles. The firm markets its products through its prestigious location in Beverly Hills, California and the company's web site at www.sgbh.com.
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including express and implied statements concerning future advertising campaigns and the results of those campaigns. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward looking statements will prove to have been correct. These forward-looking statements are subject to certain risks and uncertainties, including market and other conditions that may affect our ability to expand our auction and dealer activities and risks identified in our SEC filings. The company's actual results could differ materially from those anticipated in the forward looking statements. Past sales performance may not be indicative of future results. No assurances are given that sales trends or sales performance on behalf of consignors or customers will continue.
Press Release Source: Superior Galleries, Inc.
Superior Galleries Announces Elite Auction Price Guarantee Service
Monday November 14, 8:00 am ET
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Nov. 14, 2005--Superior Galleries, Inc. ("Superior") (OTCBB:SPGR - News) announced today that it will immediately begin to offer auction price guarantees to its consignors. Named the "Elite Total Return Guarantee," Superior CEO Silvano DiGenova believes that this unique auction guarantee service will fundamentally change the competitive landscape in the numismatic auction field. Said Mr. DiGenova, "Guarantees are really nothing new at Superior, but we have recently institutionalized and branded this service, naming it our Elite Total Return Guarantee. We are now embarking on a major advertising campaign to bring this important benefit to the attention of consignors. Our guarantee service is unique in the marketplace as we are the only numismatic auctioneer whose policy it is to proactively offer price guarantees to our consignors as a standard practice. This is a major differentiating factor between Superior and its competitors."
Mr. DiGenova further explained, "The concept of a guarantee fits perfectly with our overall philosophy of fairness, transparency, and abundant information when dealing with our clients. We want our clients to know precisely what to expect in our auctions. We believe that the client should be informed and protected from unnecessary risk. A guarantee addresses both of these objectives. It's a simple matter of fairness and customer service.
"Our guarantee is really quite simple," said Mr. DiGenova. "If a consignor gives us the opportunity to inspect and evaluate their coins, we will give them a guarantee as to what their coins will realize at our auction. In most cases we can guarantee as much or more than other auction companies will estimate their coins. In addition, we are confident that in virtually all cases we can guarantee more than any other auction company would guarantee! Our guarantee eliminates the risk to the consignor. In most cases the only assurance that a consignor has is the auction company saying they will do a good job. If this is true, then they should be able to guarantee the results. . Rather, we at Superior feel this is a fundamental necessity to the consignor and advise they should never sell at auction without a guarantee."
Superior's Elite Total Return Guarantee will be promoted on the Homepage of its website, in advertisements in major numismatics journals and trade publications, and through email announcements to Superior's clientele.
Superior Galleries, Inc. is a publicly traded company, acting as a dealer and auctioneer in rare coins and other fine collectibles. The firm markets its products through its prestigious location in Beverly Hills, California and the company's web site at www.sgbh.com.
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including express and implied statements concerning future advertising campaigns and the results of those campaigns. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward looking statements will prove to have been correct. These forward-looking statements are subject to certain risks and uncertainties, including market and other conditions that may affect our ability to expand our auction and dealer activities and risks identified in our SEC filings. The company's actual results could differ materially from those anticipated in the forward looking statements. Past sales performance may not be indicative of future results. No assurances are given that sales trends or sales performance on behalf of consignors or customers will continue.
Jon Lerner - Scarsdale Coin - www.CoinHelp.com
0
Comments
Also, do you think it will make a difference to consignors when selecting an auction firm?
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
No knock against either company, but is it any big deal to "guarantee" a price of the auction company's choosing? They could simply set the price at what they would have bought the coin for outright if offered directly.
I guess the advantage to the consignor is to see how the guaranteed price compares to what reserve the consignor might have in mind, before inking the deal.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
However, i think this is a fundamental difference from how other auction houses are approaching the matter of guarantees and reserves. For most auction houses, you will barely find any language about even reserves, as they want to greatly discourage consignors from placing any reserves at all. Case in point, many of the largest firms actively discourage reserves. But a reserve doesnt cost an auction house much, other than a coin selling or not. If a firm such as DLRC or Superior are offering guarantees this means they have a stake in the item and take on quite a bit of risk, which is much better than getting a reserve only. Hard to know if this will be effective, but i think it is very aggressive and will be a feature that most of the other auction firms are loathe to emulate for either fear of not being able to get more than the guarantee at auction, etc.
yes!!!!!!!!
BENEFITS:
Quick turnaround and fast settlement (usually within 2-3 weeks of your coins arriving in our office!) Auction environment spurs competitive bidding.
The DLRC web site offers more exposure to serious coin collectors than eBay.
NO work for you. Just ship the coins to us and we'll take care of everything.
NO SELLER'S FEES:
NO Seller's Fee. We will pay you 100% of the high bid realized for items sold on our Internet only sales.
Minimum of $2,500 estimated value per total consignment.
We will work with you to establish reasonable reserve values for your protection.
If a coin(s) fail to sell in the auction format, you may consign them to our regular inventory at a fixed price.
LET'S GET STARTED:
e-Mail your favorite DLRC representative, or the Auction department directly: auction@davidlawrence.com
call today: 1-800-776-0560 extension 113 (coin department)
contact Mary Lee for Shipping instructions: mary.lee@davidlawrence.com (1-800-776-0560 x107)
and slight of hand. There are enough weasel words
in the guarantee to cast doubt of the actual benefit
to the consigner.
Camelot
<< <i>Somehow it seems merely BS propaganda
and slight of hand. There are enough weasel words
in the guarantee to cast doubt of the actual benefit
to the consigner. >>
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